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Super Reforms – Key Opportunities

Super Reforms – Key Opportunities

From 1 July 2017.

Personal deductible contributions for employees as well

Currently, only those earning less than 10% of their income 7 from employment (the ‘10% test’) are eligible to claim super contributions as a tax deduction.

From 1 July 2017, all individuals under the age of 65 (and those aged 65 to 74 who work more than 40 hours over 30 consecutive days in the financial year the contribution is being made), will be able to claim a tax deduction for personal super contributions.

This change will enable more people to be able to:
• make personal deductible contributions, and
• make greater use of the cap that applies to personal deductible and other concessionally taxed super contributions.

Key examples include people who:
• are employed and receive superannuation guarantee contributions that are within the concessional contribution cap, but their employer doesn’t offer salary sacrifice arrangements
• switch from being a self-employed contractor to an employee during the course of a year and fail the 10% test due to employment income, and
• are residents for tax purposes who are working overseas for a foreign employer and their employer can’t or won’t contribute to an Australian super fund.

Make spouse super contributions

Currently, a tax offset of up to $540 is available for individuals who make superannuation contributions to their spouse’s account if their spouse earns7
up to $13,800 pa.

From 1 July 2017, the Government will allow more people to access the offset by extending eligibility to those whose spouses earn up to $40,000 pa.


Reforms at a glance

Key Opportunities

Implications for transition to retirement pensions

Impact of the $1.6 million pension transfer balance cap

7 Includes assessable income, reportable fringe benefits and reportable employer super contributions.




Owl Financial Management is an Adelaide Based Financial Advice business.

Financial Advisor Adelaide

We are an award winning practice that has been providing financial advice to South Australians since 1969. We really enjoy getting to know our clients and building a relationship with them that lasts over many years. We have a diverse range of clients from mum and dad to AFL players to ASX CEOs. All of which have a diverse range of financial advice needs and very different relationships to maintain. Our clients describe a 'breath of fresh air', personable, expert and people with high integrity. Clients have also mentioned that they are not treated as a number and the advice is specific to them. Working with clients for clients.

Financial Planner Adelaide

The one most rewarding thing about being a financial planner in Adelaide is when you have been working collaboratively with a client in developing and building their goals and objectives and the come to fruition. This give both the clients and myself a real sense of achievement and to use the famous quote 'are we there yet?' and together we can say YES! There has never been a better time to look towards what you want to achieve and start a financial plan so you can get there too.

Financial Planning Adelaide

A person's financial story is like a jigsaw puzzle... "lots of pieces needing to be put into their correct places". A financial adviser can assist a client to put the pieces in the right places by having a series of simple conversations about where a they are currently situated, where they want to be and what strategies can assist them. Every client has a different financial story and goals. Each jigsaw puzzle will always be different. A good financial adviser is experienced at putting together a wide range of jigsaw puzzles. Helping a client put their own puzzle together and seeing their satisfaction is a wonderful feeling.

Barry Phillis, Chris Scriva, Paul Cetrangolo and Owl Financial Management Pty Ltd are Authorised Representatives of GWM Adviser Services Limited Australian Financial Services Licensee Registered Office at 105-153 Miller Street North Sydney NSW 2060 and a member of the National Australia group of companies.

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